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QMCO Quantum

Quantum Corp. engages in the manufacture of computer storage device. It provides solutions for storing and protecting information in physical, virtual and cloud environments. The company was founded by Joel N. Harrison and James M. McCoy in 1980 and is headquartered in San Jose, CA.

Company profile

Ticker
QMCO
Exchange
CEO
Jamies Lerner
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
942665054

QMCO stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

27 Jan 21
22 Apr 21
31 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 Mar 17 Mar 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Quantum earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 17.4M 17.4M 17.4M 17.4M 17.4M
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) 321.67K 80.42K
Cash used (since last report) n/a n/a n/a 1.2M 300.87K
Cash remaining n/a n/a n/a 16.19M 17.1M
Runway (months of cash) n/a n/a n/a 50.3 212.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Apr 21 King Elizabeth Common Stock Sell Dispose S No No 8.1425 18,425 150.03K 291,583
11 Mar 21 Dodson J Michael Option exercise Aquire M No No 0 117,500 0 661,370
11 Mar 21 Dodson J Michael RSU Common Stock Option exercise Dispose M No No 0 37,500 0 37,500
11 Mar 21 Dodson J Michael RSU Common Stock Option exercise Dispose M No No 0 80,000 0 80,000
11 Mar 21 MacPherson Regan J Option exercise Aquire M No No 0 26,875 0 81,089
11 Mar 21 MacPherson Regan J RSU Common Stock Option exercise Dispose M No No 0 6,875 0 6,875
11 Mar 21 MacPherson Regan J RSU Common Stock Option exercise Dispose M No No 0 20,000 0 20,000
11 Mar 21 Moorehead Lewis W. Option exercise Aquire M No No 0 22,875 0 168,232
11 Mar 21 Moorehead Lewis W. RSU Common Stock Option exercise Dispose M No No 0 6,875 0 6,875
11 Mar 21 Moorehead Lewis W. RSU Common Stock Option exercise Dispose M No No 0 16,000 0 16,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

67.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 89 80 +11.3%
Opened positions 17 14 +21.4%
Closed positions 8 7 +14.3%
Increased positions 28 22 +27.3%
Reduced positions 26 25 +4.0%
13F shares
Current Prev Q Change
Total value 219.57M 132.21M +66.1%
Total shares 38.08M 30.53M +24.7%
Total puts 32.1K 30.4K +5.6%
Total calls 93.2K 74.6K +24.9%
Total put/call ratio 0.3 0.4 -15.5%
Largest owners
Shares Value Change
RILY B. Riley Financial 8.55M $52.31M 0.0%
Pacific Investment Management 6.37M $38.99M NEW
Allianz Asset Management GmbH 6.37M $25.88M 0.0%
TCW 3.26M $19.97M 0.0%
ATAC Neuberger Berman 2.01M $12.26M -1.2%
Vanguard 1.66M $10.16M +15.5%
BLK Blackrock 1.46M $8.96M -2.0%
Deep Field Asset Management 792.01K $4.85M +9.4%
Pacific Ridge Capital Partners 683.01K $4.18M +18.1%
Heartland Advisors 662.76K $4.06M -17.2%
Largest transactions
Shares Bought/sold Change
Pacific Investment Management 6.37M +6.37M NEW
Union Square Park Capital Management 587.78K +587.78K NEW
Equitec Proprietary Markets 361.99K -225.56K -38.4%
Vanguard 1.66M +222.78K +15.5%
Friess Associates 349.6K +210.92K +152.1%
STT State Street 494.64K +146.97K +42.3%
Heartland Advisors 662.76K -137.25K -17.2%
Bridgeway Capital Management 146.2K +120K +458.0%
Pacific Ridge Capital Partners 683.01K +104.66K +18.1%
Arrowstreet Capital, Limited Partnership 25.3K -82.11K -76.4%

Financial report summary

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Risks
  • The recent COVID-19 pandemic could adversely affect our business, results of operations and financial condition.
  • We have significant indebtedness, which imposes upon us debt service obligations, and our term loan and credit facility contains various operating and financial covenants that limit our discretion in the operation of our business. If we are unable to generate sufficient cash flows from operations and overall results of operations to meet these debt obligations or remain in compliance with the covenants, our business, financial condition and results of operations could be materially and adversely affected.
  • We have previously identified deficiencies in our control environment and financial reporting process that resulted in material weaknesses in our internal control over financial reporting and previously concluded that our internal control over financial reporting and our disclosure controls and procedures were not effective as of March 31, 2019. As of March 31, 2020, we remediated these material weaknesses and have concluded that our internal control over financial reporting and our disclosure controls and procedures were effective. However, if we fail to maintain proper and effective internal controls, material misstatements in our financial statements could occur and impair our ability to produce accurate and timely financial statements and could adversely affect investor confidence in our financial reports, which could negatively affect our business.
  • Risks Related to our Business Operations
  • We derive significant revenue from products incorporating tape technology. Our future results of operations depend in part on continued market acceptance and use of products incorporating tape technology; in the past, decreases in the market have materially and adversely impacted our business, financial condition and results of operations. In addition, if we are unable to compete with the introduction of new storage technologies by other companies, our business, financial condition and results of operations could be materially and adversely affected.
  • We may not be entitled to forgiveness of our recently received Paycheck Protection Program loan, and our application for the Paycheck Protection Program loan could in the future be determined to have been impermissible, which could result in the imposition on us of fines and other penalties, or could result in damage to our reputation.
  • We rely on indirect sales channels to market and sell our branded products. Therefore, the loss of or deterioration in our relationship with one or more of our resellers or distributors, or our inability to establish new indirect sales channels to drive growth of our branded revenue, especially for disk backup systems and scale-out tiered storage, could negatively affect our results of operations.
  • If our products fail to meet our or our customers’ specifications for quality and reliability, we may face liability and reputational or financial harm which may adversely impact our results of operations and our competitive position may suffer.
  • A certain percentage of our sales are to a few customers, some of which are also competitors, and these customers generally have no minimum or long-term purchase commitments. The loss of, or a significant reduction in demand from, one or more key customers could materially and adversely affect our business, financial condition and results of operations.
  • Our results of operations depend on continuing and increasing market acceptance of our existing limited number of products and on new product introductions, which may not be successful, in which case our business, financial condition and results of operations may be materially and adversely affected.
  • We continue to face risks related to economic uncertainty and slow economic growth.
  • Competition is intensifying in the data storage and protection market as a result of competitors introducing products based on new technology standards and merger and acquisition activity, which could materially and adversely affect our business, financial condition and results of operations.
  • A significant decline in our media royalty or branded software revenues could materially and adversely affect our business, financial condition and results of operations.
  • Some of our products contain licensed, third-party technology that provides important product functionality and features. The loss or inability to obtain any such license could have a material adverse effect on our business.
  • We have taken considerable steps towards reducing our cost structure. The steps we have taken may not reduce our cost structure to a level appropriate in relation to our future sales and therefore, these cost reductions may be insufficient to achieve profitability.
  • Since May 2018, we have hired almost an entirely new executive team, including a new CEO and new CFO. In addition, prior year restructurings and the events that led to our restatement have resulted in a significant loss of employees. If we are unable to integrate our new executives, as well as retain skilled executives and other employees, our business could be materially and adversely impacted.
  • If we do not successfully manage the changes that we have made and may continue to make to our infrastructure and management, our business could be disrupted, and that could adversely impact our results of operations and financial condition.
  • Third-party intellectual property infringement claims could result in substantial liability and significant costs, and, as a result, our business, financial condition and results of operations may be materially and adversely affected.
  • If we fail to protect our intellectual property or if others use our proprietary technology without authorization, our competitive position may suffer.
  • We license certain of our software under “open source” licenses. Because of the characteristics of open source software licenses, it may be relatively easy for competitors, some of whom have greater resources than we have, to enter our markets and compete with us.
  • Our products may contain "open source" software and failure to comply with the terms of the open source license could have a material adverse effect on our competitive positions and financial results.
  • As a result of our global manufacturing and sales operations, we are subject to a variety of risks related to our business outside of the U.S., any of which could, individually or in the aggregate, have a material adverse effect on our business.
  • Our quarterly results of operations have fluctuated significantly, and past quarterly results of operations should not be used to predict future performance.
  • Our manufacturing, component production and service repair are outsourced to third-party contract manufacturers, component suppliers and service providers. If we cannot obtain products, parts and services from these third parties in a cost effective and timely manner that meets our customers’ expectations, this could materially and adversely impact our business, financial condition and results of operations.
  • Because we may order components from suppliers in advance of receipt of customer orders for our products that include these components, we could face a material inventory risk if we fail to accurately forecast demand for our products or manage production, which could have a material and adverse effect on our results of operations and cash flows.
  • Because we rely heavily on distributors and other resellers to market and sell our products, if one or more distributors were to experience a significant deterioration in its financial condition or its relationship with us, this could disrupt the distribution of our products and reduce our revenue, which could materially and adversely affect our business, financial condition and results of operations.
  • Our stock price has experienced significant volatility in the recent past, and this significant volatility may continue to occur and could cause the trading price of our common stock to
  • Our operation and design processes are subject to safety and environmental regulations which could lead to increased costs, or otherwise adversely affect our business, financial condition and results of operations.
  • We are subject to many laws and regulations, and violation of or changes in those requirements could materially and adversely affect our business.
  • A cybersecurity breach into our products when used by our customers could adversely affect our ability to conduct our business, harm our reputation, expose us to significant liability or otherwise damage our financial results.
  • Our actual or perceived failure to adequately protect personal data could adversely affect our business, financial condition and results of operations.
  • We must maintain appropriate levels of service parts inventories. If we do not have sufficient service parts inventories, we may experience increased levels of customer dissatisfaction. If we hold excessive service parts inventories, we may incur financial losses.
  • From time to time we have made acquisitions. The failure to successfully integrate future acquisitions could harm our business, financial condition and results of operations.
  • If the future outcomes related to the estimates used in recording tax liabilities to various taxing authorities result in higher tax liabilities than estimated, then we would have to record tax charges, which could be material.
  • We are exposed to fluctuations in foreign currency exchange rates, and an adverse change in foreign currency exchange rates relative to our position in such currencies could have a material adverse impact on our business, financial condition and results of operations.
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • We are a leader in storing and managing digital video and other forms of unstructured data. We help customers around the world to ingest, process, and analyze digital data at high speed, and preserve and protect it for decades. Our customers include some of the world’s largest corporations, government agencies, service providers, broadcasters, movie studios, sports leagues and teams, and enterprises in all industries. We work closely with a broad network of distributors, VARs, DMRs, OEMs and other suppliers to solve our customers most pressing business challenges.
  • We earn our revenue from the sale of products and services through our channel partners and our sales force. Our products are sold under both the Quantum brand name and the names of various OEM providers. Our portfolio of solutions includes:
Content analysis
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H.S. sophomore Avg
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Removed: Explanatory, filing, leasehold, Paragraph, past, tooling, transition